NYSE Delists Standard Register Common Stock, Now Available OTC
DAYTON, OH—March 4, 2015—Standard Register (NYSE:SR) has received a written notice from NYSE Regulation that trading of the Company's common stock on the New York Stock Exchange ("NYSE") would be suspended before the NYSE opens on March 4, 2015. The NYSE reached its decision to delist the common stock pursuant to Section 802.01B of the NYSE's Listed Company Manual because the Company has fallen below the NYSE's continued listing standard requiring listed companies to maintain an average global market capitalization over a consecutive 30 trading day period of not less than $15,000,000.
The Company also announced that its common shares will be available for trading over-the-counter ("OTC") on the OTC Pink marketplace beginning at 9:30 a.m. on March 4, 2015, under the ticker symbol SRCT.
NYSE has informed the Company that it will apply to the Securities and Exchange Commission to delist the Company's common stock upon the completion of all applicable procedures, including any appeals by the Company of NYSE's decision. While the Company has the right to appeal the NYSE determination, based upon the cost of appeal and the likelihood of success, the Company believes that it is in the best interest of its shareholders not to contest this action and has informed the NYSE that the Company will not appeal the NYSE's determination.
This transition to the OTC markets does not affect the Company's business operations and will not change its obligation to file periodic and certain other reports with the Securities and Exchange Commission under applicable federal securities laws. Company shareholders are still the registered owners of their common shares of the Company and commencing Wednesday, March 4, 2015, will be able to trade them on OTC Pink.
About Standard Register
Standard Register (NYSE:SR) is trusted by the world's leading companies to advance their reputations and add value to their operations by aligning communications with corporate brand standards. Providing market-specific insights and a compelling portfolio of workflow, content and analytics solutions to address the changing business landscape in healthcare, financial services, manufacturing, transportation and retail markets, Standard Register is the recognized leader in the management and execution of mission-critical communications.
Source: Standard Register.